Gambling News from Eastern Europe

Throughout Europe there have been many changes regarding legislation in online gambling and gambling in general. Eastern Europe has been changing with the times as much as Western Europe has, despite widespread economic hardships (which have been felt in recent years throughout the world).

In Hungary, the government has been hit hard by the recent recessions and in an attempt to generate some revenue; they’re looking toward increasing federal taxes on gambling operations, both online and land-based. These taxes are set to start as soon as the beginning of 2012. Taxing online operations is a bit trickier than land-based so it’ll be interesting to see how the Hungarian government goes about doing so.

The Ukraine has an interesting relationship with online gambling. In 2009, the government banned it completely. Now, members of the Hungarian parliament are looking to pass laws that will not only lift the ban, but also legalize gambling in the country. Legalizing, regulating and most importantly taxing such operations can bring about a much-needed financial boost for the country of Hungary. By opening up the market to land-based casinos, Hungary also expands up the job market as well as the tourist industry.

In the Eastern European country of Latvia, a recent statement issued by the countries Gaming Business Association made headlines throughout Europe and the world. The country disclosed that in 2010, their online gambling market alone was worth €17.4 million. In at attempt to increase this number, the Latvian government is looking to introduce laws that will regulate and legalize the online gambling industry from as early as 2012.